Interesting speculation on MCC as a potential suitor. Time to play joint the dots....
Macarthur's mystery miner
MACARTHUR Coal boss Nicole Hollows started a guessing game when she confessed yesterday that the company had collected a $2.7 million profit last July when it sold a stake in a mystery takeover target it decided not to pursue. Citing the old confidentiality excuse, she declined to reveal the name of the target company.
However, that didn't stop the speculation, with Riverdale Mining, with its projects in South Africa and Mozambique, named as a possibility. Macarthur founder Ken Talbot, who's facing corruption charges in a Brisbane court, has previously mused about expanding offshore, and there was chatter last year that Macarthur operatives had been sighted in Mozambique. Also mentioned was NSW miner Resource Pacific, which is now on the verge of being gobbled up by Xstrata, and Queensland-based Felix Resources.
We all know Talbot is a huge fan of RIV entering at the placement and holding just under 5%.
RIV Price at posting:
0.0¢ Sentiment: LT Buy Disclosure: Held
